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Global Biocompatible 3D Printing Materials Market is Expected to Grow at a CAGR of 20% in the Forecast Period of 2020-2025.

According to a new report by EMR titled, ‘Global Biocompatible 3D Printing Materials Market Report and Forecast 2020-2025’, the global biocompatible 3D printing materials market attained a value of about USD 360 million in 2019. The industry is further expected to grow at a CAGR of 20% in the forecast period of 2020-2025.

North America is one of the largest biocompatible 3D printing materials market due to the growing acceptance of the 3D printing technology and the growing adoption in the health care sector. Rapid technological advancements taking place in the industry is also aiding the market growth in the region. In the coming years, the Asia Pacific region is expected to emerge as a significant market for biocompatible 3D printing materials. The regional market is projected to witness a robust growth in the coming years due to the increasing focus of major players on emerging Asian countries, the rising awareness about healthcare, the rising geriatric population, and the willingness of people to spend more on advanced medical treatments.

The overall global biocompatible 3D printing materials market is being driven by the innovations and collaborations among the key players in the industry. In January 2020, 3D Systems (NYSE: DDD), a leading player in the industry, entered into a joint agreement with CollPlant Biotechnologies to manufacture tissue and scaffold bioprinting processes for third party collaborators. The joint venture comes in response to the rising need for tissues and scaffolds for regenerative medicine applications. The collaboration will make use of 3D Systems’ printers, CollPlant’s BioInks, and new formulations of rhCollagen-based BioInks, which will be jointly developed by the two companies, to produce their own materials and for deployment with third-party vendors. Such developments are expected to influence the market positively.

Market Analysis by Type, Application, Form, and Region:

  • The market on the basis of type can be divided into polymer, metal, and others.
  • Based on application, the industry can be categorised into implants and prostheses, prototyping and surgical guides, tissue engineering, and hearing aid, among others.
  • Based on form, the industry can be segmented into powder, liquid, and others.
  • The regional markets for global biocompatible 3D printing materials market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing customisation of biocompatible 3D printing materials to meet various industry standards is a major factor driving the growth of the global biocompatible 3D printing materials market.
  • The demand for biocompatible 3D printing materials in various end-use medical applications such as implants and prosthesis and prototyping and surgical has been increasing rapidly in recent years. This is expected to fuel the growth of the market over the forecast period.
  • The adoption of many significant research and development activities by governments across the globe has been crucial to the underlying market growth. These activities are being undertaken with the objective of reducing the cost of medical applications in the health sector, and the production time while ensuring high precision.
  • High costs associated with this material is a major factor expected to limit the growth of the global biocompatible 3D printing materials market over the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global biocompatible 3D printing materials market for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the types, applications, forms, and major regions of biocompatible 3D printing materials.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global biocompatible 3D printing materials market are 3D Systems Inc., Evonik Industries AG, Stratasys Ltd., Concept Laser GmbH, Renishaw, Aspect Biosystems Ltd., and Detax Ettlingen, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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